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ACCA P3 Business analysis Essential text by Kaplan

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Expandable text 7 The influence of strategic groups Strategic groups are organisations within an industry or sector with similar strategic characteristics, following similar strategies or competing on similar bases. Strategic group analysis is a help to understanding the competitive structure of an industry: • • Against whom is an organisation directly competing? • Identify potential opportunities and threats.  low­cost production, brand names, low overheads or a local customer base.  Often it is simply not feasible to consider 30 competitors, to say nothing of hundreds.

Markets and segmentation One aim of segmentation is to identify groups of customers who share similar needs for targeting. Traditional segmentation focuses on identifying customer groups based on a number of variables that include: • geographic variables, such as region of the world or country, country size, or climate • demographic variables, such as age, gender, sexual orientation, family size, income, occupation, education, socioeconomic status, religion, nationality/race, and others • psychographic variables, such as personality, life­style, values and attitudes • behavioural variables, such as benefit sought (quality, low price, convenience), product usage rates, brand loyalty, product end use, readiness­to­buy stage, decision­making unit, and others.

All products must have these simply to enter the market.  The organisation will need to assess its strategic capabilities to identify which segments it should target. • Customers’ understanding of value can vary over time, so the organisation needs to be open to changing the monitored CSFs.  air­conditioning, leather seats), fuel economy, economic footprint, depreciation, etc. • • Reliability is likely to be a threshold product feature. • Families may be more concerned about safety whereas single young males, image and performance.

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